US President Joe Biden talks with fellow G7 heads of government during meetings on Ukraine in Brussels. AFP
US President Joe Biden talks with fellow G7 heads of government during meetings on Ukraine in Brussels. AFP
US President Joe Biden talks with fellow G7 heads of government during meetings on Ukraine in Brussels. AFP
US President Joe Biden talks with fellow G7 heads of government during meetings on Ukraine in Brussels. AFP

Europe and US shift focus to energy and refugees in diplomatic marathon on Ukraine


Tim Stickings
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Western powers turned their attention to the economic and humanitarian fallout of the war in Ukraine on Thursday as US President Joe Biden held talks with the EU in the final leg of an all-day diplomatic showdown.

After a Nato summit that promised more defence against Russia and a G7 commitment to enforcing sanctions on Moscow, the EU talks were expected to produce an agreement on loosening Russia’s hold over Europe’s energy grid.

European Commission president Ursula von der Leyen said the EU and Mr Biden would present a “new chapter in our energy partnership” on Friday in which the US would provide more liquefied natural gas to fill the Russian gap.

She said the goal of talks between the EU’s 27 leaders was to agree joint purchasing and joint storage of gas, exploiting the bloc’s economic weight in a manner compared by officials to the acquisition of coronavirus vaccines.

“The single most important thing that we have to do in the West is be united,” said Mr Biden as he praised allies for co-ordinating a rapid response to the invasion.

But agreement is less likely on the question of cutting off the Russian oil and gas imports that are some of the Kremlin’s most lucrative money-spinners, with energy expected to dominate talks on Friday.

Supporters of an embargo say Europe’s fossil fuel purchases are effectively financing the attacks on Ukraine, which several senior figures on the EU have described as amounting to war crimes.

Polish Prime Minister Mateusz Morawiecki urged colleagues as he arrived for the European Council talks: “The sooner we understand that this is the main oxygen for the Russian war machine, the better.”

  • Nato Secretary General Jens Stoltenberg, front left, US President Joe Biden and British Prime Minister Boris Johnson pose for a photo during an extraordinary Nato summit in Brussels. AP Photo
    Nato Secretary General Jens Stoltenberg, front left, US President Joe Biden and British Prime Minister Boris Johnson pose for a photo during an extraordinary Nato summit in Brussels. AP Photo
  • Jens Stoltenberg speaks at a press conference at the end of the summit in Brussels. EPA
    Jens Stoltenberg speaks at a press conference at the end of the summit in Brussels. EPA
  • France's President Emmanuel Macron shakes hands with Mr Biden as they arrive at Nato headquarters. AFP
    France's President Emmanuel Macron shakes hands with Mr Biden as they arrive at Nato headquarters. AFP
  • The leaders gather for a photo in Brussels. AP Photo
    The leaders gather for a photo in Brussels. AP Photo
  • Japanese Prime Minister Fumio Kishida and Boris Johnson attend a bilateral meeting. Getty Images
    Japanese Prime Minister Fumio Kishida and Boris Johnson attend a bilateral meeting. Getty Images
  • Joe Biden speaks with Jens Stoltenberg during the summit. Reuters
    Joe Biden speaks with Jens Stoltenberg during the summit. Reuters
  • European Commission President Ursula von der Leyen and Boris Johnson. PA
    European Commission President Ursula von der Leyen and Boris Johnson. PA
  • Mr Biden is greeted by Mr Stoltenberg as he arrives for meetings with Nato allies in the Belgian capital. AP Photo
    Mr Biden is greeted by Mr Stoltenberg as he arrives for meetings with Nato allies in the Belgian capital. AP Photo
  • Mr Johnson addresses media representatives after he arrives in Brussels. AFP
    Mr Johnson addresses media representatives after he arrives in Brussels. AFP
  • Canada's Prime Minister Justin Trudeau speaks to the press in Brussels. AFP
    Canada's Prime Minister Justin Trudeau speaks to the press in Brussels. AFP
  • Mr Macron shakes hands with Turkish President Recep Tayyip Erdogan. AFP
    Mr Macron shakes hands with Turkish President Recep Tayyip Erdogan. AFP
  • Mr Stoltenberg at Nato's headquarters in Brussels. AFP
    Mr Stoltenberg at Nato's headquarters in Brussels. AFP
  • Mr Erdogan with officials including Turkey's Foreign Minister Mevlut Cavusoglu as he arrives in Brussels. AFP
    Mr Erdogan with officials including Turkey's Foreign Minister Mevlut Cavusoglu as he arrives in Brussels. AFP
  • Mr Macron arriving at the summit. AFP
    Mr Macron arriving at the summit. AFP

However, German Chancellor Olaf Scholz said oil and gas had deliberately been left out of the sanctions packages because of the reliance of some European economies on Russian fuel.

Irish leader Micheal Martin said he was open to going further on sanctions but said leaders had to ensure that energy-related measures had the effect of punishing Russia rather than members of the EU.

Another issue facing leaders is the refugee flow out of Ukraine that has left neighbouring countries dealing with millions of refugees and Poland in particular starting to feel the strain.

Mr Morawiecki, whose country has taken in more than two million people, said he expected his EU colleagues to provide new funds for humanitarian assistance and to be “at least as generous” as during the migration crises of 2015 and 2016.

“We cannot limit our support for refugees only to money which is already included in some other budgets of the European Union,” he said. “We have to think out of the box.”

European Council chief Charles Michel is proposing an international donors' conference and what he calls a trust fund to support humanitarian assistance and reconstruction in Ukraine.

Mr Biden's administration announced that the US was willing to welcome up to 100,000 Ukrainians with a focus on those who already have family living in America.

The president will visit Poland on Friday and hear from humanitarian experts on the refugee crisis, the White House said, but he will stop short of entering Ukraine as the war with Russia enters its second month.

  • World and US-led military alliance leaders gather at Nato headquarters in Brussels to discuss the war in Ukraine. Reuters
    World and US-led military alliance leaders gather at Nato headquarters in Brussels to discuss the war in Ukraine. Reuters
  • Smoke rises near a seaport in Berdyansk, Ukraine, whose navy reported it had sunk the Russian ship ‘Orsk’ in the Sea of Asov. AP Photo
    Smoke rises near a seaport in Berdyansk, Ukraine, whose navy reported it had sunk the Russian ship ‘Orsk’ in the Sea of Asov. AP Photo
  • Refugees with children wait for a transport after fleeing the war from neighbouring Ukraine at a railway station in Przemysl, Poland. AP Photo
    Refugees with children wait for a transport after fleeing the war from neighbouring Ukraine at a railway station in Przemysl, Poland. AP Photo
  • A girl sleeps as refugees from Ukraine wait at the railway station in Przemysl, Poland. More than half of Ukraine's children have already been displaced, Unicef said. AFP
    A girl sleeps as refugees from Ukraine wait at the railway station in Przemysl, Poland. More than half of Ukraine's children have already been displaced, Unicef said. AFP
  • A school destroyed in a Russian bomb in Kharkiv. AFP
    A school destroyed in a Russian bomb in Kharkiv. AFP
  • Ukrainian President Volodymyr Zelenskyy speaks from the capital Kyiv. AP
    Ukrainian President Volodymyr Zelenskyy speaks from the capital Kyiv. AP
  • Activists hold placards during a protest in solidarity with Ukraine, at Grand Central Station in New York. AFP
    Activists hold placards during a protest in solidarity with Ukraine, at Grand Central Station in New York. AFP
  • Ukrainian refugees take sandwiches at Krakow Airport before boarding a plane to Zurich, chartered by a Swiss millionaire. AFP
    Ukrainian refugees take sandwiches at Krakow Airport before boarding a plane to Zurich, chartered by a Swiss millionaire. AFP
  • A man collects clothes from a damaged house in the city of Zhytomyr, northern Ukraine. AFP
    A man collects clothes from a damaged house in the city of Zhytomyr, northern Ukraine. AFP
  • A customer checks his rifle in a gun shop in Lviv, western Ukraine. AP
    A customer checks his rifle in a gun shop in Lviv, western Ukraine. AP
  • A mother tends to her newborn baby in the shelter of a maternity ward in the city of Zhytomyr, northern Ukraine. AFP
    A mother tends to her newborn baby in the shelter of a maternity ward in the city of Zhytomyr, northern Ukraine. AFP
  • A serviceman carries the photo of Captain Andrei Paliy, a deputy commander of Russia's Black Sea Fleet, during a farewell ceremony in Sevastopol, Crimea. AP
    A serviceman carries the photo of Captain Andrei Paliy, a deputy commander of Russia's Black Sea Fleet, during a farewell ceremony in Sevastopol, Crimea. AP
  • A member of the Ukrainian Territorial Defence Forces stands in front of a damaged house in the city of Zhytomyr, northern Ukraine. AFP
    A member of the Ukrainian Territorial Defence Forces stands in front of a damaged house in the city of Zhytomyr, northern Ukraine. AFP
  • A Ukrainian serviceman guards a military check point in the city of Zhytomyr, northern Ukraine. AFP
    A Ukrainian serviceman guards a military check point in the city of Zhytomyr, northern Ukraine. AFP
  • Zinaida Bogdanova, a resident of the Ukrainian city of Mariupol, reacts as she stays at a temporary accommodation centre for evacuees located in the building of a local sports school in Taganrog in the Rostov region, Russia. Reuters
    Zinaida Bogdanova, a resident of the Ukrainian city of Mariupol, reacts as she stays at a temporary accommodation centre for evacuees located in the building of a local sports school in Taganrog in the Rostov region, Russia. Reuters
  • Children play in front of a building damaged in fighting during the Ukraine-Russia conflict, in the besieged southern port of Mariupol, Ukraine. Reuters
    Children play in front of a building damaged in fighting during the Ukraine-Russia conflict, in the besieged southern port of Mariupol, Ukraine. Reuters
  • Graves of residents killed by shelling during the Ukraine-Russia conflict are seen in a yard, in the besieged southern port of Mariupol, Ukraine. Reuters
    Graves of residents killed by shelling during the Ukraine-Russia conflict are seen in a yard, in the besieged southern port of Mariupol, Ukraine. Reuters
  • A Russian army soldier stands next to local residents who queue for humanitarian aid delivered during the Ukraine-Russia conflict, in the besieged southern port of Mariupol, Ukraine. Reuters
    A Russian army soldier stands next to local residents who queue for humanitarian aid delivered during the Ukraine-Russia conflict, in the besieged southern port of Mariupol, Ukraine. Reuters
  • A Ukrainian serviceman stands on guard as Kyiv Mayor Vitali Klitschko, right, speaks alongside his brother, former heavyweight boxing world champion, Wladimir Klitschko, in the Ukrainian capital. AP
    A Ukrainian serviceman stands on guard as Kyiv Mayor Vitali Klitschko, right, speaks alongside his brother, former heavyweight boxing world champion, Wladimir Klitschko, in the Ukrainian capital. AP
  • Family photos lie amid the rubble of the home of former teacher Natalia. The house, in Kyiv, was hit in a military strike. Reuters
    Family photos lie amid the rubble of the home of former teacher Natalia. The house, in Kyiv, was hit in a military strike. Reuters
  • A service member of pro-Russian troops, wearing a uniform without insignia, handles a mortar round at the weapons depot near Marinka, Donetsk. Reuters
    A service member of pro-Russian troops, wearing a uniform without insignia, handles a mortar round at the weapons depot near Marinka, Donetsk. Reuters
  • Volodymyr, 80, rests inside his apartment, which was damaged by shelling, in Kyiv. AP
    Volodymyr, 80, rests inside his apartment, which was damaged by shelling, in Kyiv. AP
  • This Maxar satellite image shows the remains of high-rise apartment buildings in Mariupol. AFP
    This Maxar satellite image shows the remains of high-rise apartment buildings in Mariupol. AFP
  • A man walks through a residential district of Kyiv that was damaged by shelling. Reuters
    A man walks through a residential district of Kyiv that was damaged by shelling. Reuters
  • A woman exercises near a car and apartments damaged by shelling, in Kyiv. AP
    A woman exercises near a car and apartments damaged by shelling, in Kyiv. AP
  • Volunteers at a beach fill sandbags to defend their city, Odesa, in southern Ukraine. AP
    Volunteers at a beach fill sandbags to defend their city, Odesa, in southern Ukraine. AP
  • A firefighter takes a break from extinguishing flames inside a house in Kyiv that was damaged by shelling. AP
    A firefighter takes a break from extinguishing flames inside a house in Kyiv that was damaged by shelling. AP
  • Rescuers conduct search operations and dismantle debris in Kharkiv, Ukraine. AFP
    Rescuers conduct search operations and dismantle debris in Kharkiv, Ukraine. AFP
  • People queue at a pharmacy in Kharkiv. AP
    People queue at a pharmacy in Kharkiv. AP
  • City workers cover the monument to Italian poet, writer and philosopher Dante Alighieri with sandbags to protect against Russian shelling in Kyiv. AFP
    City workers cover the monument to Italian poet, writer and philosopher Dante Alighieri with sandbags to protect against Russian shelling in Kyiv. AFP
  • Former teacher Natalia stands near the ruins of her house which was hit in a military strike in Kyiv, Ukraine. Reuters
    Former teacher Natalia stands near the ruins of her house which was hit in a military strike in Kyiv, Ukraine. Reuters
  • Locals clean the area at a residential district of Kyiv that was damaged by shelling, as Russia’s invasion of Ukraine continues. Reuters
    Locals clean the area at a residential district of Kyiv that was damaged by shelling, as Russia’s invasion of Ukraine continues. Reuters

Nato earlier on Thursday promised to shore up the defences of Ukraine and its own members in what Secretary General Jens Stoltenberg said was a changed security environment.

Mr Stoltenberg, who unanimously had his term extended until September 2023 on Thursday, said Nato would offer Ukraine more military aid as well as equipping it for any chemical, nuclear or biological attack by Russia.

Nato will look to protect its own borders by setting up four new battle groups in Romania, Slovakia, Hungary and Bulgaria to shore up an eastern flank exposed to a newly hostile Russia.

Mr Biden hailed the West's response as a show of unity which Russian President Vladimir Putin would not have expected, and said Nato had “never been more united than it is today".

But the alliance stopped short of granting Ukrainian President Volodymyr Zelenskyy's request that one per cent of Nato's tanks and planes be donated to the country's war effort.

Mr Zelenskyy told the closed-door Nato meeting that Ukraine had been through “a month of heroic resistance ... a month of the darkest suffering” since Russia launched its invasion.

Nato's headquarters also played host to a G7 meeting at which the group of rich democracies promised to stop Russia using gold reserves to prop up its economy.

The leaders also said they would do what was necessary to prevent a food security crisis caused by war in Ukraine and economic crisis in Russia, two of the world's top wheat producers.

“We commit to provide a sustainable food supply in Ukraine and support continued Ukrainian production efforts,” they said in a four-page statement.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

BUNDESLIGA FIXTURES

Friday Hertha Berlin v Union Berlin (11.30pm)

Saturday Freiburg v Borussia Monchengladbach, Eintracht Frankfurt v Borussia Dortmund, Cologne v Wolfsburg, Arminia Bielefeld v Mainz (6.30pm) Bayern Munich v RB Leipzig (9.30pm)

Sunday Werder Bremen v Stuttgart (6.30pm), Schalke v Bayer Leverkusen (9pm)

Monday Hoffenheim v Augsburg (11.30pm)

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Greatest Royal Rumble results

John Cena pinned Triple H in a singles match

Cedric Alexander retained the WWE Cruiserweight title against Kalisto

Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus

Jeff Hardy retained the United States title against Jinder Mahal

Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos

Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe

AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out

The Undertaker beats Rusev in a casket match

Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match

Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last

ESSENTIALS

The flights 
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes. 
Where to stay 
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

Draw

Quarter-finals

Real Madrid (ESP) or Manchester City (ENG) v Juventus (ITA) or Lyon (FRA)

RB Leipzig (GER) v Atletico Madrid (ESP)

Barcelona (ESP) or Napoli (ITA) v Bayern Munich (GER) or Chelsea (ENG)

Atalanta (ITA) v Paris Saint-Germain (FRA)

Ties to be played August 12-15 in Lisbon

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

Updated: March 25, 2022, 7:39 AM